MUSCATINE, IA - HNI Corp. will spend $20 million expanding its Muscatine, IA office furniture manufacturing.
The producer of such leading business furnishings brands as Hon, Allsteel, and Paolli, has received a tax benefit from the Iowa Economic Development Authority Board in anticipation of a $20 million capital investment in its Muscatine operations.
HNI, the second-largest manufacturer of office furniture in the world, increase capacity for laminate and wood product manufacturing. HNI's most recent earnings report noted that capital expenditures had more than doubled in the first nine months of the year, to $44.7 million.
Despite the large investment, employment is expected to increase by only 10 jobs, reports the Muscatine Gazette, which reports $14.7 million will be spent on equipment.
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